InterContinental Accommodations Group (“IHG”) [LON:IHG, NYSE:IHG (ADRs)] at the moment pronounces that Keith Barr has knowledgeable the Board of his resolution to step down from his function as Group Chief Government Officer (CEO) and from the IHG Board. Keith intends to return together with his household to the US. His closing day as CEO will probably be 30 June, after which he’ll stay accessible to assist and advise the enterprise till the tip of 2023.
Keith will probably be succeeded by Elie Maalouf, a member of IHG’s Board and Government Committee, who has led IHG’s Americas enterprise as regional CEO for the previous eight years. Elie will take up his new place on 1 July and will probably be primarily based within the UK to guide the enterprise.
Keith has been part of IHG for greater than 30 years and was appointed to the Board and as CEO in July 2017. Executing a transparent technique, he has reworked IHG to place the corporate for long-term sustainable development, surpassing 6,000 open resorts, broadening the portfolio with the addition of seven manufacturers in six years, considerably investing in IHG’s digital capabilities and loyalty provide, embarking on a 10-year accountable enterprise technique, and progressing in key areas of DE&I. Throughout Keith’s tenure, IHG has additionally efficiently navigated a world pandemic and continued to develop its footprint and status with key stakeholders around the globe.
Elie joined IHG as Americas CEO in February 2015. Underneath his management, the area’s property has grown from roughly 3,700 resorts to greater than 4,350. Elie led the supply of document income, oversaw the launch of recent manufacturers and codecs, and strengthened how the enterprise drives worth for our resort homeowners. Elie has spent a number of many years within the world hospitality sector and has a breadth of expertise spanning resort growth, branding, finance, actual property and operations administration, in addition to meals and beverage experience, with a powerful observe document of delivering distinctive outcomes. Elie has lived and labored internationally together with in Europe, the Center East, North Africa and the US, and speaks 4 languages.
To assist Elie and Chief Monetary Officer Michael Glover and to assist guarantee a easy transition, Keith will stay accessible to the enterprise over the remainder of 2023. A course of is underway to nominate a successor to Elie as Americas CEO.
It has been a pleasure to work with Keith, and on behalf of the Board and our colleagues I wish to thank him for his profitable management of IHG and congratulate him on his exceptional contribution. Beginning in our resorts within the US earlier than shifting into company roles which have seen him work throughout worldwide markets, Keith has used all his expertise to guide a real transformation of IHG in his six years as CEO. He has rallied a enterprise round a transparent technique with resort homeowners and friends at its coronary heart, strengthened IHG’s enterprise platform, and positioned the enterprise on a path to long-term sustainable development and to proceed a superb observe document of shareholder worth creation. He has achieved this with nice heat and character – not least throughout the depths of the pandemic – and we want him the perfect for the longer term.
Succession planning has been a trademark of the enterprise for a few years and Elie’s appointment is the results of a rigorous course of and a dedication to put money into the event of our leaders, as was the case when Keith turned CEO in 2017. Elie has been an instrumental a part of our enterprise in his eight years operating our largest working area and as a member of the Board since 2018. His important trade expertise and deep understanding of our enterprise makes him extraordinarily properly positioned to tackle the function of CEO and guarantee we proceed to progress and execute in opposition to our profitable technique. The Board and I look ahead to working with him in his new place. Deanna Oppenheimer, Chair of IHG
I really feel extremely privileged to have spent three many years as a part of IHG, working alongside the numerous proficient colleagues that make it such a particular firm, and in partnership with our resort homeowners who share our ardour for hospitality. I’ve been fortunate sufficient to expertise this in a number of international locations through the years and to have spent the final six as CEO has been an honour. After a very long time residing overseas, now could be the suitable time for me and my household to return to the US. I’m happy with the robust place that IHG is in at the moment, due to the investments now we have made to remodel each side of our enterprise, ship for our friends and homeowners, and develop and function our manufacturers in the suitable method around the globe. I’m excited for what lies forward for IHG and having labored so carefully collectively, to see Elie lead the enterprise and construct on all he has achieved within the Americas. Keith Barr, CEO
I’m extraordinarily proud to be appointed CEO of one of many world’s main resort firms and excited to work with our proficient groups and homeowners around the globe on what will probably be an essential new chapter for IHG. Working carefully with Keith and as an Government Committee, we’ve made a variety of essential strategic investments in recent times that place us with thrilling alternatives to grasp IHG’s full trade main potential, by driving the efficiency and development of our improbable manufacturers and delivering robust returns for all our stakeholders. Elie Maalouf, Americas CEO and CEO Designate
About IHG®
IHG Accommodations & Resorts [LON:IHG, NYSE:IHG (ADRs)] is a world hospitality firm, with a goal to offer True Hospitality for Good.
With a household of 17 resort manufacturers and IHG Rewards, one of many world’s largest resort loyalty programmes, IHG has over 6,000 open resorts in additional than 100 international locations, and an extra 1,800 within the growth pipeline.
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InterContinental Accommodations Group PLC is the Group’s holding firm and is included and registered in England and Wales. Roughly 350,000 individuals work throughout IHG’s resorts and company places of work globally.
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